Tuesday, March 10, 2015

Why Is Spain's Population Loss An Economic Problem?

"Growth theory was invented to provide a systematic way to talk about and to compare equilibrium paths for the economy. In that task it succeeded reasonably well. In doing so, however, it failed to come to grips adequately with an equally important and interesting problem: the right way to deal with deviations from equilibrium growth……..if one looks at substantial more-than-quarterly departures from equilibrium growth……….. it is impossible to believe that the equilibrium growth path itself is unaffected by the short- to medium-run experience…….So a simultaneous analysis of trend and fluctuations really does involve an integration of long-run and short-run, or equilibrium and disequilibrium. "
Robert Solow, Nobel Acceptance Speech

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Edward Hugh

Born in Liverpool Edward Hugh is a macroeconomist of British origin who has lived in Catalonia for over 25 years. For 20 of those years he lived and worked in Barcelona, but since 2010 he has been living in a small village near the town of Figueres.

Hugh, who studied economics at the LSE in the late sixties before going on to do Masters and Doctoral studies in Manchester, is an expert on the impact of demographic change and migratory processes on economic growth.

His work came to be known to a wider international public following the publication of a New York Times article highlighting his anticipation of the Euro Area crisis.

Since the start of the crisis Hugh has become a reference point for the international press in relation to the difficult economic situation in Spain.

He is an active blogger, and regular contributor to social network platforms like Twitter and Facebook where he is widely followed. He has no political involevment of any kind, and is proud of his reputation as an independent analyst-

In Spain he has recently published a book on the Spanish economy (¿Adios a la crisis?, Deusto 2014), and is a frequent contributor to the Barcelona press.

He is currently working on his next book - No Growth Societies - which will be written and published in English. He is also a regular speaker and participant in Forums and Economic Seminars, within and without Spain, a vocation which has taken him across Europe and the Middle East, from Brussels and Vienna, to Riga and Bergen, to Doha and Tel Aviv.